Is Crypto Activity Migrating Outside The U.S.?
Over the past few months, regulators in the United States have taken a host of enforcement actions against vario US crypto b US inesses. Last month, Ripple executive Brad Garlingho US e told Bloomberg that the SEC’s recent increase in crypto enforcement actions is keeping the U.S. behind other countries in terms of establishing productive crypto regulation. In fact, he has time and again also asserted that the crypto ind US try has already started moving Offshore . Owing to the regulatory uncertainty, Coinbase, the largest U.S.-based crypto exchange, is parallelly looking to launch a trading desk outside the U.S. Alongside, Circle, issuer of the USDC stablecoin, is ramping up its European footprint and seeks to register in Paris. The company’s chief strategy officer asserted recently that, “France is increasingly seen as a leader in crypto.” So, with crypto companies looking to establish their presence outside the U.S., it’d seem like crypto activity is also moving offshore. ...